Construction spending increased by 8 percent in March compared to a year earlier and was also up slightly between February and March amid growing demand for many types of construction, as the spending total hit the highest level since October 2007, according to an analysis by the Associated General Contractors of America. Association officials said the growth comes amid strong private-sector demand and new federal investments in surface transportation programs.
“Construction should be a significant contributor to economic growth in the remainder of 2016 and beyond,” said Ken Simonson, the association's chief economist. “Right now the biggest challenge for contractors in many parts of the country is that they are worried about finding enough qualified workers to meet demand.”
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